Thursday, January 16, 2014

Quick Correction

by Osman Parvez

A quick correction to my post from earlier today.   The actual sales volume increase for Boulder houses in the price trance of $500,000 to $600,000 is 86%, not 91%. 

Here's the revised chart.   


An 86% increase is still massive by the way.  

Why the difference?    I went through the the numbers again this morning and removed duplicates from the data set.   IRES has a "hide duplicate listings," but it's not very good with condos.   Many imported Metrolist sales are actually duplicates of IRES, so manually cleaning up the data is required.  

I realize that unless you're a professional in this industry, this may sound confusing.   A large number of Boulder Realtors (my competitors) are regulars on this blog, so I'm largely speaking to them.    

For everyone else, the take home message should be to ask about the data source whenever you see an analysis of Boulder real estate.   If you're looking at trends in the broader market, a combination of IRES and Metrolist data is adequate.  If you're analyzing comps for a specific property, be sure your data set adds tax assessor information and review each sale to make sure you're not including non-arms length transactions (family sales, etc.)

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